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Financial News: Singapore Retail Sales Fall In January

Singapore Retail Sales Fall In January

03/05/2021 - 00:41:00 (RTTNews)

(RTTNews) - Singapore retail sales decreased in January, data from the Department of Statistics showed on Friday.

Retail sales declined 6.1 percent year-on-year in January, following a 3.3 percent fall in December.

Motor vehicle sales rose 10.3 percent annually in January, following a 3.3 percent growth in the previous month.

Excluding motor vehicles, retail sales fell 8.4 percent in January, following a 4.2 percent decrease in the preceding month.

Sales of food and alcohol decreased 43.6 percent yearly in January and those of cosmetics, toiletries and medical goods declined 31.8 percent.

Sales of department stores declined 36.1 percent. Sales of wearing apparels and footwear, and watches and jewelry fell by 28.5 percent and 8.1 percent, respectively.

In January, sales at petrol service stations, mini-marts and convenience stores, optical goods and books, and other goods declined.

On a monthly basis, retail sales fell 1.8 percent in January, following a 1.0 percent decline in the prior month.

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